What is fascinating is that the Indian economy as a whole hasn't been doing too well lately. Verdict is out and you'll read both interpretations but here's one from a Nobel Laureate: https://economictimes.indiatimes.com/news/economy/policy/ind...

The startup activity in India is the bright side of the story. We are still riding the boom that came due to Jio and mass adoption of "data" - but I worry that the overall slowdown in the economy will catch up with the startup ecosystem at some point.